by Dr. Jeffrey Lewis, Silver-coin-investor:
Perhaps it is not terribly surprising to learn that recent silver demand numbers from India have set records. While gold still seems to be the typical precious metal of choice in the United States, silver is clearly making waves abroad.
Indian silver imports are up a staggering 259% at 857 tonnes in the April-July time period. That amount is approximately one third of the global monthly production of silver.
Furthermore, July’s Indian silver import amount of 275 tonnes is the second highest import figure of any month in the last 5 years.
A Large New Silver Vault Opens in Singapore
A silver vault that can hold 200 metric tons opens in Singapore this week to cater for increasing demand for physical precious metals among Asia’s wealthy, even as the commodity leads market declines this year. The new repository can hold $128 million of silver at today’s prices.
Please follow SGT Report on Twitter & help share the message.